Bank of England Governor Mark Carney vowed to reform the central bank to prepare for the upcoming "fourth industrial revolution." Carney highlighted the emerging digital economy at the Innovate Finance Global Summit, saying that many developing countries are preparing to respond to this trend by adopting blockchain technology and decentralized systems. He said, "The second wave of globalization is at its peak. The fourth industrial revolution has just begun. A new economy is taking shape. The new economy needs new finance. A new kind of finance that serves the digital economy, one that supports the world. New finances undergoing major transformations, and a new finance that enhances the resilience of the financial industry."